Big movers on D-Street: What should investors do with HCL Tech, Delta Corp and Manappuram Finance?

Stocks that were in focus included names like HCL Tech, which rose 2.03%, Delta Corp, which jumped 2.9%, and Manappuram, whose shares declined 4.8% on Wednesday.

Here’s what Riyank Arora, Technical Analyst at Mehta equities, recommends investors should do with these stocks when the market resumes trading today.

HCL Tech (Bullish)
The stock has successfully formed a W pattern on its daily charts. Any pullback towards 1480-1485 should be a good buying opportunity for the stock, with a stop loss placed below the 1465 mark. There is a small resistance on the stock around the 1510 levels, which, if broken, would likely lead to an upside towards 1550 and above.

Delta Corp (Bullish)
The stock is moving in a parallel channel, with its immediate resistance at the 160 mark and the immediate support at the 140 mark. Any breakout above 160 should be a positive sign for the stock, unlocking potential upside towards 172 and above.

Manappuram Finance (Bullish)
The stock has touched its trendline on the daily charts. There is a major support at 163, which, if broken, could push the downside further. However, if this support is held, higher levels of 180 and 182 might be seen in the stock.

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